Tool hire firm Lavendon showed its suitors why it is worth fighting for after reporting better than expected sales.

The Leicestershire-based business, which is at the centre of a bidding war between Belgian and French rivals, said its sales for the year had exceeded expectations thanks to its booming business in the Middle East.

The group’s overall sales grew by 8 per cent last year and its business in the UK was up 9 per cent.

Soaring: Lavendon has seen its share price jump by more than 85%

However, operations in the Middle East, which make up just over a quarter of its revenue, grew by a whopping 16 per cent

The strength of the region has attracted the attention of French-owned Loxam and Belgium’s TVH who are looking to gain a slice of the lucrative pie, and the group has been engaged in a number of back and forths since mid-November.